Hi I live in France with my wife and child of 12 and have debt in the uk is around £30k, at the moment i am unemployed so the creditors are not intrested in my offer of payments being of small ammounts as we have to pay charges to transfer the money over to £ from euros. my wife is working which covers our morgage at which stands at 87.000 euros had the house valued 120.000 euros which leaves me approx £14.000 equity, i understand all fees selling the property come out of my equity and in France selling a property is approx 6% and for estate agent fees and we paid 4000 euros for solicitor. rough idea if i sell the house id have left 4800 euros so £4000. with such small equity left in the property would they force me to sell the house. hope thats enough info?? any help would be great thanks
if you are living in France, with a mortgage and your wife working there I cannot see that the court would allow your petition for Br in England.
To petition for Br here you need to have been resident in England & Wales within the last 3 years.
Also - which is critical - should you now be resident in another EU country you would need to apply for Br in that country.
If however you were living in Australia then you are outside the EU so could pply at the High Court.
There is no reason you could not do a debt management plan.
We have a number of folk abroad who are doing a dmp. They transfer funds every 3 months and we then distribute funds to creditors. This minimises the transfer costs.
Paul Johns Bankruptcy Specialists Reviva UK www.revivauk.com 08454 751 851
thinking of bankruptcy
Posted - 05 October 2010 : 19:24:24
